AsiaDry Cargo

Nissen Kaiun’s latest cape sale watched with interest

Nisshin Kaiun’s ongoing fire sale continues. This time the privately owned Japanese shipping mammoth is attempting to sell its oldest cape, an eight-year-old cape Tsuneishi Cebu build vessel named Cologny.

Brokers are watching the sale closely as the first weeks of the year have showed a softening in vessel values amid a weaker than expected freight rate environment.

The 45 m wide ship is currently moored at Huadong Shipyard where it was available for inspection on Friday. Splash understands that the 292 m long bulker could fetch around $28m. Last year the diverse player sold five elderly capes leaving the outfit with 13 capes with a fleet average of only five years. Nissen Kaiun is listed with 63 bulkers in VesselsValue’s database.

Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.
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